Can i really find good Foreclosure deals at the County Clerks office?

Question

I am currently look to buy a foreclosed home or home that is going through preforeclosure. I just wanted to know if my local county clerks office shows me houses that are being auctioned or are they showing homes that in the process of being forclosed.

If anybody has anyinput on what type of foreclosures the county clerks provides, please help me out. I will give ten points to the best answer.

Answer 1

Yes you can.  Get the addresses and visit the properties, talk to the neighbors.  Check how much back taxes are owed and if there are any mechanics' liens on the property.  House on my road with 3 acres that cost 150k sold for 80k  great deal for the buyer.

Answer 2

Usually a county clerk office will put houses up for not paying property taxs. Most of the houses go up in an auction on a specified day at the steps of a court house and bidders bid on the property. If the property owner can come up with the money before the auction the property will be pulled from the auction.

Answer 3

The list is at the County Recorder's Office under Notice Of Trustees Sales.   Many excellent buys. All free to view.  The problem is that you must pay cash at the auction. Cash.  No loans. No 30 day closings. That's why no one bids at them. /

Answer 4

The County Clerks office is a great starting place to find properties that are up for foreclosure. It's right that you will be required to have cash available at bidding, but you can find out what properties are going up for auction so you can be ready. This will allow you to possibly get a loan or secure the money before the actual auction date. Once you choose to bid on one of these properties, you will have to be quick to get these properties as they are only auctioned off once and then become the property of the lender and are typically sold as REOs. A downside is that you may not be able to see the inside of the property, which can be nothing short of a disaster. If you are looking for options that allow you a little more flexibility, there are other great places to find foreclosure properties as well.

Hope this helps!

Susan

Answer 5

http://infoonforeclosures.blogspot.com

Answer 6

The answer may vary by location, but in Las Vegas, Clark County Nevada, the information you'll get from the county recorder's office would be "notice of default" which investors would consider "pre-foreclosure".  Getting the default list gives investors time (about 5 months before repossession) to contact the owner and attempt to work out a win-win-win solution.  In the current market, because of fallen home values, it's rare to find a situation with enough equity to be profitable for the investor.

You'll also find the "notice of trustee sale" at the county recorder's office.  This is the notice that the property will be sold at auction in about 30 days.  Here you'll need to show up with cashier's checks for the full purchase amount on the day of the auction.  No inspections, btw.  Lately, because of fallen home prices, there are no bidders at these auctions, and the bank (note holder) becomes the high bidder by default at the amount that was owed on the note.

If you're researching a specific address, the county office should do just fine, but if you're looking for well organized lists, you'll find them much more accessible and user friendly when you get them directly from a title company or real estate agent.

I offer Las Vegas area lists at http://www.foreclosures.investinvegas.us